Exam 43: B: Law for Small Business

Federal immigration laws do not require verifying whether workers are U.S.citizens or are otherwise authorized to work in this country.

A limited liability company's members must be its managers.

Josh and Kya form Longview Associates,a limited part?nership,to invest in real estate.Compared to a sole proprietorship and a general partnership,a limited partnership has limited

Promises made to an employee in a contract or a handbook may prevent an employer from firing the employee without fulfilling the promise.

One way to raise capital to expand a business is to borrow the funds.

Ben owns Copyshop and wants to sell Copyshop franchises throughout the United States.In doing so,Ben wants to prevent competitors from imitating the distinctive Copyshop logo and thereby misleading consum?ers.How can Ben protect the logo?

Factors to consider when choosing a business form include continuity of life.

Generally,your trademark must be the same as another's mark or so similar that confusion results.

Dallas and Ellyn operate Freestyle Riders,a bicycle shop,as a part?nership.Taxes on the business's income are paid by

Stingo operates Tropic Burger Restaurant as a corporation.A customer slips and breaks her ankle in the restaurant and is awarded damages by a court.Those damages must most likely be paid by

Reb wants to start a new business enterprise.Shari is an accountant.Reb most likely needs to consult Shari because

The states and the Securities and Exchange Commission jointly created a simplified securities registration process for large businesses.

Max wants to open Max's Medical Equipment Supply with the assistance of an attorney.To find an attorney,Max should most likely

Mabel and Nahim want to start up and incorporate a new business enterprise.The first step in the incorporation process is to

Finn wants to incorporate his game store as GameZ,Inc. ,and files the name with the Idaho secretary of state.Filing will protect the name

Bemis is forming Cool Air Company to make and sell a device that removes the heat from working kitchens and other hot rooms.In exchange for legal services to Bemis and his new firm at the start-up stage,an attorney is not likely to accept

If a new company has only two owners,they do not need a shareholder agreement that defines their relative ownership rights and interests.

Bild-It-Rite Corporation uses independent contractors.Bild-It-Rite can

A business entity's limited personal liability obviates the need to obtain insurance for significant business liability risks.

Companies may require employees who have access to trade secrets to agree in their employment contracts never to divulge those secrets.